Board confidence usually only affects you if it's drastic disappointment e.g. finishing 4th but telling them you'll win the league. Most of the time the board become unhappy, but eventually get over it.
As for newgens, it's not so much that they are awful and doesn't really affect your game that much, but you will find they lack in certain areas e.g. defenders will have 8 for jumping but 20 for corners

Like I say it's not that big a deal and there are usually plenty of newgens worth buying.
I prefer a long term game because you can set yourself targets and these change as your club changes or you change clubs. Personally I started my game with the intention of taking over Man Utd when they get relegated (as it is pretty well documented that they usually do after going into administration), i'm in 2018 and no sign of problems for them yet so I continue with VFB.